LIC’s Jeevan Shiromani plan  in chandigarh. It offers a combina�on of protec�on and savings. This
plan is specially designed for High Net-worth Individuals. This plan provides
financial support for the family in case of unfortunate death of the policyholders
during the policy term. Periodic payments shall also be made on survival of the
policyholder at specified dura�ons during the policy term and a lump sum
payment to the surviving policyholder at the �me of maturity. In addi�on, this
plan also provides for payment of a lumpsum amount equal to 10% of the chosen
Basic Sum Assured on diagnosis of any of the specified Cri�cal Illnesses. This plan
also takes care of liquidity needs through loan facility.
A. Death Benefit:
On death during first five years: Death Benefit defined as sum of “Sum
Assured on Death” and accrued Guaranteed Addi�on shall be payable.
On death a�er comple�on of five policy years but before the date of
maturity: Death Benefit defined as sum of “Sum Assured on Death” and
accrued Guaranteed Addi�on and Loyalty Addi�on, if any, shall be payable.
Where “Sum Assured on Death” is defined as the higher of 125% of Basic
Sum Assured or 7 �mes of annualised premium.
This death benefit shall not be less than 105% of all the premiums paid upto
the date of death.
Premiums referred above excludes taxes, extra premium and rider premium(s),
ifany.
B. Survival Benefit:
On the life assured surviving to each of the specified dura�ons during the
policy term, provided all due premiums have been paid, a fixed percentage of
Basic Sum Assured shall be payable. The fixed percentage for various policy
terms is as below:
For policy term 14 years:
30% of Basic Sum Assured on each of 10 and 12 policy anniversary. �� ��
For policy term 16 years:
35% of Basic Sum Assured on each of 12 and 14 policy anniversary. �� ��
For policy term 18 years:
40% of Basic Sum Assured on each of 14 and 16 policy anniversary. �� ��
For policy term 20 years:
45% of Basic Sum Assured on each of 16 and 18 policy anniversary. �� ��
1. Benefits payable under an inforce policy (where all due premiums have been paid):
C. Maturity Benefit:
On the life assured surviving to the end of the policy term, provided all due
premiums have been paid, “Sum Assured on Maturity” along with accrued
Guaranteed Addi�ons and Loyalty Addi�on, if any, shall be payable.
Where “Sum Assured on Maturity” is as under:
40% of Basic Sum Assured for policy term 14 years
30% of Basic Sum Assured for policy term 16 years
20% of Basic Sum assured for policy term 18 years
10% of Basic Sum assured for policy term 20 years
D. Inbuilt Cri�cal Illness Benefit:
I. Benefit:
On first diagnosis of any one of the 15 cri�cal illnesses as men�oned below,
provided the policy is inforce on the date of diagnosis by payment of all
premiums due under the policy, the following benefits/ facili�es shall be
available:
i) Lumpsum Benefit: Inbuilt Cri�cal Illness Benefit equal to 10% of Basic Sum
Assured shall be payable provided the claim is admissible.
ii) Op�on to defer the payment of premium(s): When a claim under inbuilt
Cri�cal Illness Benefit is admi� ed, life assured will have an op�on to defer the
payment of premiums falling due within 2 years from the date of admission of
Cri�cal Illness claim under the policy (including rider premiums). The
deferment of premiums shall be allowed for a period of 2 years from the date
of admission of Cri�cal Illness claim and subsequent premiums, if any, shall be
payable on their due dates. No interest shall be charged from the life assured
for deferred premiums within the period of such deferment . During this
period, if any due premium(s) are not paid, and any of the benefits payable
under the base policy and/or rider(s) become due, the applicable benefit(s)
shall be payable as under an inforce policy a�er the deduc�on of all the
premiums due under the policy.
iii) Medical Second Opinion: The policyholder will have facility of taking Medical
Second Opinion, through the available healthcare providers, interna�onally
or through reputed hospitals in India or through specialist doctors available in
different places depending on the arrangement in this regard by the
Corpora�on. This facility shall be available only once during the policy term
with no extra cost. This provision for all or either of the op�ons of Medical
Second Opinion is subject to availability of the facility and arrangement made
by the Corpora�on and as in�mated in this regard. The details of same shall be
furnished to the policyholder along with the policy document.
II. Condi�ons and restric�ons under Inbuilt Cri�cal Illness Benefit:
(A) Inbuilt Cri�cal Illness benefit will be payable only a�er the Corpora�on is
sa�sfied on the basis of available medical evidence that the specified illness
has occurred. However, in some illnesses covered under this benefit, a specific
deferment period applies to establish permanence of the illness covered.
(B) This benefit shall be payable only once during the currency of the policy.
Under a paid-up policy propor�onate benefit amount shall be payable as
men�oned in Para 11 below.

(A) The list and defini�ons of the 15 Cri�cal Illness condi�ons covered under
thisbenefit:
1. CANCER OF SPECIFIED SEVERITY:
I. A malignant tumor characterized by the uncontrolled growth and spread of
malignant cells with invasion and destruc�on of normal �ssues. This
diagnosis must be supported by histological evidence of malignancy. The
term cancer includes leukaemia, lymphoma and sarcoma.
II. The following are excluded –
i. All tumors which are histologically described as carcinoma in situ, benign,
pre-malignant, borderline malignant, low malignant poten�al, neoplasm
of unknown behavior, or non-invasive, including but not limited to:
Carcinoma in situ of breasts, Cervical dysplasia CIN-1, CIN -2 and CIN-3.
ii. Any non-melanoma skin carcinoma unless there is evidence of
metastases to lymph nodes or beyond;
iii. Malignant melanoma that has not caused invasion beyond the epidermis;
iv. All tumors of the prostate unless histologically classified as having a
Gleason score greater than 6 or having progressed to at least clinical TNM
classifica�on T2N0M0
v. All Thyroid cancers histologically classified as T1N0M0 (TNM
Classifica�on) or below;
vi. Chronic lymphocy�c leukaemia less than RAI stage 3
vii. Non-invasive papillary cancer of the bladder histologically described as
TaN0M0 or of a lesser classifica�on,
viii.All Gastro-Intes�nal Stromal Tumors histologically classified as T1N0M0
(TNM Classifica�on) or below and with mito�c count of less than or equal
to 5/50 HPFs;
IX All tumors in the presence of HIV infec�on.
2. OPEN CHEST CABG
I. The actual undergoing of heart surgery to correct blockage or narrowing in
one or more coronary artery(s), by coronary artery bypass gra�ing done via a
sternotomy (cu� ng through the breast bone) or minimally invasive keyhole
coronary artery bypass procedures. The diagnosis must be supported by a
coronary angiography and the realiza�on of surgery has to be confirmed by a
cardiologist.
II. The following are excluded:
Angioplasty and/or any other intra-arterial procedures
3. MYOCARDIAL INFARCTION
(First Heart A� ack of specific severity)
I. The first occurrence of heart a� ack or myocardial infarc�on, which means the
death of a por�on of the heart muscle as a result of inadequate blood supply
to the relevant area. The diagnosis for Myocardial Infarc�on should be
evidenced by all of the following criteria:
i. A history of typical clinical symptoms consistent with the diagnosis of
acute myocardial infarc�on (For e.g. typical chest pain)
ii. New characteris�c electrocardiogram changes

4. KIDNEY FAILURE REQUIRING REGULAR DIALYSIS
iii. Eleva�on of infarc�on specific enzymes, Troponins or other specific
biochemical markers.
II. The following are excluded:
i. Other acute Coronary Syndromes
ii. Any type of angina pectoris
iii. A rise in cardiac biomarkers or Troponin T or I in absence of overt ischemic
heart disease OR following an intra-arterial cardiac procedure.
End stage renal disease presen�ng as chronic irreversible failure of both kidneys
to func�on, as a result of which either regular renal dialysis (haemodialysis or
peritoneal dialysis) is ins�tuted or renal transplanta�on is carried out. Diagnosis
has to be confirmed by a specialist medical prac��oner.
5. MAJOR ORGAN /BONE MARROW TRANSPLANT (as recipient)
I. The actual undergoing of a transplant of:
i. One of the following human organs: heart, lung, liver, kidney, pancreas,
that resulted from irreversible end-stage failure of the relevant organ, or
ii. Human bone marrow using haematopoie�c stem cells. The undergoing of
a transplant has to be confirmed by a specialist medical prac��oner.
II. The following are excluded:
i. Other stem-cell transplants
ii. Where only islets of langerhans are transplanted
6. STROKE RESULTING IN PERMANENT SYMPTOMS
I. Any cerebrovascular incident producing permanent neurological sequelae.
This includes infarc�on of brain �ssue, thrombosis in an intracranial vessel,
haemorrhage and embolisa�on from an extracranial source. Diagnosis has to
be confirmed by a specialist medical prac��oner and evidenced by typical
clinical symptoms as well as typical findings in CT Scan or MRI of the brain.
Evidence of permanent neurological deficit las�ng for at least 3 months has to
be produced.
II. The following are excluded:
i. Transient ischemic a� acks (TIA)
ii. Trauma�c injury of the brain
iii. Vascular disease affec�ng only the eye or op�c nerve or ves�bular
func�ons.
7. PERMANENT PARALYSIS OF LIMBS
Total and irreversible loss of use of two or more limbs as a result of injury or
disease of the brain or spinal cord. A specialist medical prac��oner must be of the
opinion that the paralysis will be permanent with no hope of recovery and must
be present for more than 3 months.
I. The unequivocal diagnosis of Definite Mul�ple Sclerosis confirmed and
evidenced by all of the following:
i. inves�ga�ons including typical MRI findings which unequivocally
confirm the diagnosis to be mul�ple sclerosis and
ii. there must be current clinical impairment of motor or sensory func�on,
which must have persisted for a con�nuous period of at least 6 months.
II. Other causes of neurological damage such as SLE and HIV are excluded.
8. MULTIPLE SCLEROSIS WITH PERSISTING SYMPTOMS
The actual undergoing of major surgery to repair or correct an aneurysm,
narrowing, obstruc�on or dissec�on of the aorta through surgical opening of the
chest or abdomen. For the purpose of this defini�on, aorta shall mean the
thoracic and abdominal aorta but not its branches.
Surgery performed using only minimally invasive or intra-arterial techniques are
excluded.
9. AORTIC SURGERY
I. An unequivocal diagnosis of Primary (Idiopathic) Pulmonary Hypertension by
a Cardiologist or specialist in respiratory medicine with evidence of right
ventricular enlargement and the pulmonary artery pressure above 30 mm of
Hg on Cardiac Cauteriza�on. There must be permanent irreversible physical
impairment to the degree of at least Class IV of the New York Heart
Associa�on Classifica�on of cardiac impairment.
II. The NYHA Classifica�on of Cardiac Impairment are as follows:
i. Class III: Marked limita�on of physical ac�vity. Comfortable at rest, but
less than ordinary ac�vity causes symptoms.
ii. Class IV: Unable to engage in any physical ac�vity without discomfort.
Symptoms may be present even at rest.
III. Pulmonary hypertension associated with lung disease, chronic
hypoven�la�on, pulmonary thromboembolic disease, drugs and toxins,
diseases of the le� side of the heart, congenital heart disease and any
secondary cause are specifically excluded.
10. PRIMARY (IDIOPATHIC) PULMONARY HYPERTENSION
Deteriora�on or loss of intellectual capacity as confirmed by clinical evalua�on
and imaging tests, arising from Alzheimer’s Disease or irreversible organic
disorders, resul�ng in significant reduc�on in mental and social func�oning
requiring the con�nuous supervision of the Life Assured for a minimum period of
6 months from date of diagnosis. This diagnosis must be supported by the clinical
confirma�on of an appropriate Registered Medical prac��oner who is also a
Neurologist and supported by the Corpora�on’s appointed doctor.
The following are excluded:
i. Non-organic disease such as neurosis and psychiatric illnesses; and
ii. Alcohol-related brain damage.
11. ALZHEIMER’S DISEASE/ DEMENTIA
I. Total, permanent and irreversible loss of all vision in both eyes as a result of
illness or accident.
II. The Blindness is evidenced by:
i. corrected visual acuity being 3/60 or less in both eyes or ;
ii. the field of vision being less than 10 degrees in both eyes.
III. The diagnosis of blindness must be confirmed and must not be correctable by
aids or surgical procedure.
12. BLINDNESS
13. THIRD DEGREE BURNS
There must be third-degree burns with scarring that cover at least 20% of the
body’s surface area. The diagnosis must confirm the total area involved using
standardized, clinically accepted, body surface area charts covering 20% of the
body surface area.
14. OPEN HEART REPLACEMENT OR REPAIR OF HEART VALVES
The actual undergoing of open-heart valve surgery is to replace or repair one or
more heart valves, as a consequence of defects in, abnormali�es of, or diseaseaffected cardiac valve(s). The diagnosis of the valve abnormality must be
supported by an echocardiography and the realiza�on of surgery has to be
confirmed by a specialist medical prac��oner. Catheter based techniques
including but not limited to, balloon valvotomy/valvuloplasty are excluded.
15. BENIGN BRAIN TUMOR
I. Benign brain tumor is defined as a life threatening, non-cancerous tumor in
the brain, cranial nerves or meninges within the skull. The presence of the
underlying tumormust be confirmed byimaging studies suchas CT scan orMRI.
II. This brain tumor must result in at least one of the following and must be
confirmed by the relevant medical specialist.
i. Permanent Neurological deficit with persis�ng clinical symptoms for a
con�nuous period of at least 90 consecu�ve days or
ii. Undergone surgical resec�on or radia�on therapy to treat the brain tumor.
III. The following condi�ons are excluded:
Cysts, Granulomas, malforma�ons in the arteries or veins of the brain,
hematomas, abscesses, pituitary tumors, tumors of skull bones and tumors
of the spinal cord.
(D) Wai�ng period: A wai�ng period of 90 days will apply from the date of
commencement of risk or date of revival of risk cover, whichever is later, to
the first diagnosis of the Cri�cal Illness under considera�on. This would mean
that this benefit shall terminate if any of the con�ngencies men�oned in Para
1.d.II. above occurs:
(i) at any �me on or a�er the date on which the risk under the Policy has
commenced but before the expiry of 90 days reckoned from that date or
(ii) before the expiry of 90 days from the date of Revival.
However, wai�ng period will not apply to condi�ons arising directly out of
accident.

(E) Survival period: A survival period of 30 days is applicable from the date of
diagnosis of Cri�cal Illness listed above. If death occurs within the survival
period, no inbuilt cri�cal illness benefit shall be payable.
(F) Exclusions:
The Corpora�on shall not be liable to pay any of the benefits under Inbuilt
Cri�cal Illnesses Benefit if the cri�cal illness has occurred directly or indirectly
as a result of any of the following:
• Any of the listed cri�cal illness condi�ons where death occurs within 30
days from the date of diagnosis
• Any sickness condi�on related to the cri�cal illnesses listed above
manifes�ng itself within 90 days of the commencement of risk or revival
of risk cover, whichever is later.
• Inten�onally self-inflicted injury or a� empted suicide, irrespec�ve of
mental condi�on.
• Alcohol or solvent abuse, or the taking of drugs except under the
direc�on of a registered medical prac��oner.
• War, invasion, hos�li�es (whether war is declared or not), civil war,
rebellion, revolu�on or taking part in a riot or civil commo�on.
• Taking part in any act of a criminal nature.
• Any Pre-exis�ng medical condi�on.
• HIV or AIDS
• Failure to seek medical or follow medical advice (i.e. failure to undergo
tests or treatments that a prudent person would normally undergo as
recommended by aMedical Prac��oner.
• Radioac�ve contamina�on due to nuclear accident.
(G) Termina�on of Inbuilt Cri�cal Illness Benefit:
The Inbuilt Cri�cal Illness Benefit will terminate on the earliest occurrence of
any of the following events:
• The date on which the claim is paid in respect of this benefit; or
• The date of expiry of policy term; or
• The date on which surrender benefit is se� led under the policy; or
• On cancella�on/termina�on of the policy for any reason; or
• On cancella�on/termina�on of the policy by the Corpora�on on grounds
of misrepresenta�on, fraud or non-disclosure established in terms of
Sec�on 45 of the Insurance Act, 1938, as amended from �me to �me; or
• On diagnosis of a Cri�cal Illness within the wai�ng period
Any cri�cal illness manifes�ng itself during the wai�ng period is not admissible.
The first admissible cri�cal illness which is manifested, diagnosed and lodged
a�er wai�ng period and during the currency of policy, once admi� ed for, shall
preclude any further cri�cal illness and therefore the benefit will terminate.

2. Par�cipa�on in profits:
Provided the policy has completed five policy years and atleast 5 full years’
premium have been paid, then depending upon the Corpora�on’s experience the
policies under this plan shall be eligible for Loyalty Addi�on at the �me of exit in
the form of Death during the policy term or Maturity, at such rate and on such
terms as may be declared by the Corpora�on. Under a paid-up policy, Loyalty
Addi�on shall be payable for the completed policy years for which the policy was
inforce.
In addi�on, Loyalty Addi�on, if any, shall also be considered in Special Surrender
Value calcula�on on surrender of policy during the policy term, provided the
policy has completed five policy years and atleast 5 full years’ premium have been
paid. In case of surrender of policy, Loyalty Addi�on shall be payable for the
completed policy year for which the policy was inforce.
The actual alloca�on to policyholders, out of the surplus emerging from the
actuarial inves�ga�on, shall be as approved by Central Government in
accordance with provisions in this regard under LIC Act, 1956.
3. Guaranteed Addi�ons:
Guaranteed Addi�ons shall accrue at the end of each policy year during the
Premium Paying Term (PPT), provided all due premiums have been paid �ll date.
The rate of Guaranteed Addi�ons shall be as follows:
• Rs. 50 per thousand Basic Sum Assured for first five years
• Rs. 55 per thousand BasicSumAssured from 6th policyyear�llend of PPT
In case of a paid-up policy or on surrender of a policy the Guaranteed
Addi�on for the policy year in which the last premium is received will be added
on propor�onate basisin propor�on to the premium received for thatyear.
4. Eligibility Condi�ons and Other Restric�on :
a) Minimum Basic Sum Assured : Rs. 1,00,00,000
b) Maximum Basic Sum Assured : No limit
(The Basic Sum Assured shall be in mul�ples of Rs. 5,00,000/-)
c) Policy Term : 14, 16 , 18 and 20 years
d) Premium Paying Term : (Policy term – 4) years
e) Minimum Age at entry : 18 years (completed)
f) Maximum Age at entry : 55 years (nearer birthday) for policy term
14 years
51 years (nearer birthday) for policy term
16 years
48 years (nearer birthday) for policy term
18 years
45 years (nearest birthday) for policy term
20 years
I. Rider Benefits:
The following four op�onal riders are available under this plan by payment of
addi�onal premium. However, the policyholder can opt between either of the
LIC’s Accidental Death and Disability Benefit Rider or LIC’s Accident Benefit Rider.
Therefore, a maximum of three riders can be availed under a policy.
a) LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V02)
This rider can be opted for at any �me under an inforce policy within the
premium paying term of the Base plan provided the outstanding premium
paying term of the Base plan is atleast 5 years. The benefit cover under this
rider shall be available during the policy term. If this rider is opted for, in case
of accidental death, the Accident Benefit Sum Assured will be payable in
lumpsum. In case of accidental disability arising due to accident (within 180
days from the date of accident), an amount equal to the Accident Benefit Sum
Assured will be paid in equal monthly instalments spread over 10 years and
future premiums for Accident Benefit Sum Assured as well as premiums for
the por�on of Basic Sum Assured under the Base Policy which is equal to
Accident Benefit Sum Assured under the policy, shall be waived.
b) LIC’s Accident Benefit Rider (UIN:512B203V03)
This rider can be opted for at any �me under an inforce policy within the
premium paying term of the Base plan provided the outstanding premium
paying term of the Base plan is atleast 5 years. The benefit cover under this
rider shall be available during the premium paying term. If this rider is opted
for, in case of accidental death, the Accident Benefit Sum Assured will be
payable in lumpsum.
c) LIC’s New Term Assurance Rider (UIN: 512B210V01)
This rider is available at incep�on of the policy only. The benefit cover under
this rider shall be available during the policy term. If this rider is opted for, an
amount equal to Term Assurance Rider Sum Assured shall be payable on
death of the Life Assured during the policy term.
d) LIC’s New Cri�cal Illness Benefit Rider (UIN: 512A212V01)
This rider is available at the incep�on of the policy only. The cover under this
rider shall be available during the policy term. If this rider is opted for, on first
g) Maximum Age at Maturity : 69 years (nearer birthday) for policy term
14 years
67 years (nearer birthday) for policy term
16 years
66 years (nearer birthday) for policy term
18 years
65 years (nearer birthday) for policy term
20 years
Date of commencement of risk under the plan:
Risk will commence immediately from the date of acceptance of the risk.
5. Op�ons available:

diagnosis of any one of the specified 15 Cri�cal Illnesses covered under this
rider, the Cri�cal Illness Sum Assured shall be payable.
The premium for LIC’s Accident Benefit Rider or LIC’s AccidentalDeathandDisability
Benefit Rider and LIC’s New Cri�cal Illness Benefit Rider shall not exceed 100% of
premium under the base plan and the premiums under all other life insurance riders
put together shall notexceed 30% of premiums under the base plan.
Each of above Rider sum assured cannot exceed the Basic Sum Assured.
For more details on the above riders, refer to the rider brochure or contact LIC’s
nearest Branch Office.
II. Op�on to defer the Survival Benefit(s):
The policyholder shall have an op�on to defer the Survival Benefit(s) and take the
increased Survival Benefits (i.e. deferred original Survival Benefit(s) along with
interest) at any �me on or a�er its due date but during the currency of the policy.
If the increased survival benefit(s) are not taken by the policyholder during the
currency of the policy the same shall be payable along with benefit payable at the
�me of termina�on of the policy in the form of death or maturity or surrender.
This op�on can be availed under an inforce as well as paid-up policy.
The interest rate payable on each deferred Survival Benefit and as applicable for
the en�re dura�on of deferment of that Survival Benefit shall be determined at
periodic intervals. The applicable interest rate shall be as declared by the
Corpora�on based on the method approved by the IRDAI.
This op�on can be exercised for either or both of the Survival Benefits separately
and is to be in�mated in wri�ng to the servicing branch office of the Corpora�on
at least six months before the due date of the Survival Benefit. Else the survival
benefits would be paid on their due dates as per the terms of the policy.
III. Se� lementOp�on (forMaturity Benefit):
Se� lement Op�on is an op�on to receive Maturity Benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an inforce
as well as Paid-up policy. This op�on can be opted by the Life Assured for full or
part of the maturity proceeds payable under the policy. The amount opted for this
op�on by the Life Assured (i.e. net claim amount including the payment of
deferred Survival Benefit(s), if any) can be either in absolute value or as a
percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-yearly or quarterly or
monthly intervals, as opted for, subject to minimum instalment amount as under:
If the net claim amount is less than the required amount to provide the minimum
instalment amount as per the op�on exercised by the Life Assured, the claim
proceed shall be paid in lump sum only.
Mode of Instalment payment
Monthly
Quarterly
Half-Yearly
Yearly
Minimum instalment amount
Rs. 5,000/-
Rs. 15,000/-
Rs. 25,000/-
Rs. 50,000/-
The interest rates applicable for arriving at the instalment payments under
Se� lement Op�on shall be as fixed by the Corpora�on from �me to �me.
For exercising the se� lement op�on against Maturity Benefit, the Life Assured
shall be required to exercise op�on for payment of net claim amount in
instalments at least 3 months before the due date of maturity claim.
A�er the commencement of Instalment payments under Se� lement Op�on
againstMaturity Benefit:
• If a Life Assured, who has exercised Se� lement Op�on against Maturity
Benefit, desires to withdraw this op�on and commute the outstanding
instalments the same shall be allowed on receipt of wri� en request from the
Life Assured. In such case, the lumpsum amount, which is higher of the
following shall be paid and the policy shall terminate.
– discounted value of all the future instalments due; or
– (the original amount for which se� lement op�on was exercised) less
(sum of total instalments already paid);
• The interest rates applicable for discoun�ng the future instalment
payments shall be as fixed by the Corpora�on from �me to �me.
• A�er the Date of Maturity, in case of death of the Life Assured, who has
exercised Se� lement Op�on, the outstanding instalments will con�nue to be
paid to the nominee as per the op�on exercised by the Life Assured and no
altera�on whatsoever shall be allowed to be made by the nominee.
IV. Op�on to take Death benefit in instalments:
This is an op�on to receive Death Benefit in instalments over the chosen
period of 5 or 10 or 15 years instead of lump sum amount under an inforce as
well as paid-up policy. This op�on can be exercised by the Life Assured, during
his/her life �me; for full or part of the Death benefits payable under the
policy. The amount opted by the Life Assured (ie. Net Claim Amount including
the payment of deferred Survival Benefit(s), if any) can be either in absolute
value or as a percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-yearly or quarterly
or monthly intervals, as opted for, subject to minimum instalment amount as
under:
If the net claim amount is less than the required amount to provide the minimum
instalment amount as per the op�on exercised by the Life Assured, the claim
proceed shall be paid in lump sum only.
The interest rates applicable for arriving at the instalment payments under this
op�on shall be as fixed by the Corpora�on from �me to �me.
For exercising op�on to take Death Benefit in instalments, the Life Assured can
exercise this op�on during his/her life�me while in currency of the policy,
specifying the period of Instalment payment and net claim amount for which the
Mode of Instalment payment
Monthly
Quarterly
Half-Yearly
Yearly
Minimum instalment amount
Rs. 5,000/-
Rs. 15,000/-
Rs. 25,000/-
Rs. 50,000/-

op�on is to be exercised. The death claim amount shall then be paid to the
nominee as per the op�on exercised by the Life Assured and no altera�on
whatsoever shall be allowed to be made by the nominee.
6. Payment of Premiums:
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly
intervals (monthly premiums through NACH only) or through salary deduc�ons
during the Premium Paying Term of the policy.
7. Grace Period
A grace period of 30 days shall be allowed for payment of yearly or half-yearly or
quarterly premiums and 15 days for monthly premiums from the date of First
unpaid premium. During this period, the policy shall be considered inforce with
the risk cover without any interrup�on as per the terms of the policy. If the
premium is not paid before the expiry of the days of grace, the Policy lapses.
The above grace period will also apply to rider premiums which are payable along
with premium for Base Policy.
8. Sample Illustra�ve Premium:
The sample illustra�ve annual premiums for Basic Sum Assured of Rs 1 crore for
Standard lives are as under:
Age
(Nearer Birthday)
20
30
40
50
14(10)
10,69,670
10,75,550
11,01,030
11,69,140
Policy Term (Premium Paying Term)
16(12)
8,96,700
9,04,050
9,31,980
10,02,540
18(14)
7,70,770
7,79,100
8,09,480

20(16)
6,83,550
6,93,350
7,26,670

(Amount in Rs)
The above premium is exclusive of taxes.
9. Rebates:
Mode Rebate:
Yearly mode – 2% of Tabular Premium
Half-yearly mode – 1% of Tabular premium
Quarterly,Monthly (NACH)& Salary deduc�on – NIL
High Basic Sum Assured Rebate:
Basic Sum Assured (BSA) Rebate on tabular premium (Rs.)
100,00,000 to 195,00,000 Nil
200,00,000 to 495,00,000 0.030‰ BSA
500,00,000 and above 0.050‰ BSA
If premium is not paid before the expiry of the days of grace, then the policy will
lapses. The lapsed policy may be revived during the life�me of the Life Assured,
but within a period of 5 consecu�ve years from the date of first unpaid premium
and before the date of maturity, as the case may be. The revival shall be effected
on payment of all the arrears of premium(s) together with interest (compounding
half-yearly) at such rate as fixed by the Corpora�on from �me to �me and on
sa�sfac�on of Con�nued Insurability of the Life Assured on the basis of
informa�on, documents and reports that are already available and any addi�onal
informa�on in this regard if and as may be required in accordance with the
Underwri�ng Policy of the Corpora�on at the �me of revival, being furnished by
the Life Assured.
The Corpora�on reserves the right to accept at original terms, accept with
modified terms or decline the revival of a discon�nued policy. The revival of a
discon�nued policy shall take effect only a�er the same is approved, accepted
and revival receipt is issued by the Corpora�on.
If the revival period falls beyond the premium paying term and the policy is
revived a�er the due date of survival benefit, then the difference between full
Survival Benefit payable under inforce policy and Survival Benefit already paid
considering paid-up policy shall be paid to the policyholder.
Revival of rider(s), if opted for, will be considered along with revival of the Base
Policy, and not in isola�on.
10. Revival:
If less than one year’s premium has been paid and any subsequent premium be
not duly paid, all the benefits under the policy shall cease a�er the expiry of grace
period from the date of first unpaid premium and nothing shall be payable.
If, a�er atleast one full year’s premium has been paid and on comple�on of one
policy year and any subsequent premiums be not duly paid, the policy shall not be
wholly void but shall con�nue as a paid-up policy �ll the end of policy term.
The Sum Assured on Death under a paid-up policy shall be reduced to such a sum,
called ‘Death Paid-up Sum Assured’ and shall be equal to Sum Assured on Death
mul�plied by ra�o the of the total period for which premiums have already been
paid to the maximum period for which premiums were originally payable. bears
In addi�on to the Death Paid-up Sum Assured the Guaranteed Addi�ons accrued
upto the date of First Unpaid Premium along with Loyalty Addi�on, if any, shall
also be payable on death.
The Sum Assured on Maturity under a paid-up policy shall be reduced to such a
sum called ‘Maturity Paid-up Sum Assured’ and shall be equal to Sum Assured on
Maturity mul�plied by ra�o the of the total period for which premiums have
already been paid to the maximum period for which premiums were bears
originally payable. In addi�on to the Maturity Paid-up Sum Assured, the
Guaranteed Addi�ons accrued upto the date of First Unpaid Premium along with
Loyalty Addi�on, if any, shall also be payable on maturity.
The survival benefits payable under a paid-up policy shall be equal to (survival
benefit payable under inforce policy) * (total period for which premiums have
already been paid / the maximum period for which premiums were originally
payable) and shall be payable on Life Assured surviving to each of the specified
dura�on during the policy term.
11. Paid-up Policy:

However, if op�on to defer the Survival Benefit(s) has been exercised and
payment of such Survival Benefit(s) have not yet been made, these increased
Survival Benefit(s) as specified in Para 5.II above shall be payable on termina�on
of policy in the form of death or maturity or surrender.
The inbuilt Cri�cal Illness Benefit under a paid-up policy, provided the same has
not been admi� ed earlier, shall be equal to (10% of Basic Sum Assured) *(total
period for which premiums have already been paid / the maximum period for
which premiums were originally payable) and shall be payable on first diagnosis
of any of the specified cri�cal illnesses.
Under a Paid-up policy, Loyalty Addi�on , if any, shall be payable for the
completed policy years for which the policy was inforce, provided the premiums
have been paid for atleast 5 full years and a�er comple�on of 5 policy years.
Rider(s) shall not acquire any paid-up value and the rider benefit(s) cease to
apply, if policy is in lapsed condi�on.
The policy can be surrendered at any �me provided one full year’s premium has
been paid and a�er comple�on of one policy year. On surrender of the policy, the
Corpora�on shall pay the Surrender Value equal to higher of Guaranteed
Surrender Value and Special Surrender Value.
The Special Surrender Value is reviewable and shall be determined by the
Corpora�on from �me to �me subject to prior approval of IRDAI.
Guaranteed Surrender Value payable during the policy term shall be equal to the
total premiums paid mul�plied by the Guaranteed Surrender Value factor
applicable to total premiums paid then reduced by any survival benefits already
due and payable under the policy. These Guaranteed Surrender Value factors
expressed as percentages will depend on the policy term and policy year in which
the policy is surrendered and are as specified below:
12. Surrender:
10
65.00%
61.25%
59.00%
57.50%
11
70.00%
65.00%
62.00%
60.00%
12
75.00%
68.75%
65.75%
62.50%
13
90.00%
72.50%
68.00%
65.00%
14
90.00%
76.25%
71.00%
67.50%
15

90.00%
74.00%
70.00%
16

90.00%
77.00%
72.50%
17


90.00%
75.00%
18


90.00%
77.50%
19



90.00%
20



90.00%
Policy
Term
14
16
18
20
Guaranteed Surrender value factors applicable to total premium paid
1
20.00%
20.00%
20.00%
20.00%
2
30.00%
30.00%
30.00%
30.00%
3
35.00%
35.00%
35.00%
35.00%
4
50.00%
50.00%
50.00%
50.00%
5
50.00%
50.00%
50.00%
50.00%
6
50.00%
50.00%
50.00%
50.00%
7
50.00%
50.00%
50.00%
50.00%
8
55.00%
53.75%
53.00%
52.50%
9
60.00%
57.50%
56.00%
55.00%
Policy Year
Premiums referred above shall not include any taxes, extra amount if charged
under the policy due to underwri�ng decision and rider premiums, if any.
In addi�on, surrender value of accrued Guaranteed Addi�ons, shall also be
payable, which is equal to the accrued Guaranteed Addi�ons mul�plied by
Guaranteed Surrender Value factor applicable to accrued Guaranteed Addi�ons.
These Guaranteed Surrender Value factors expressed as percentages will depend
on the policy term and policy year in which the policy is surrendered and are as
specified below:
13. Policy Loan:
In addi�on to the payable Surrender Value, if the op�on to defer the Survival
Benefit(s) has been exercised and payment of such Survival Benefit(s) which
were due but have not yet been made, these increased Survival Benefit(s) as
specified in Para 5.II above, shall also be paid.
Loan can be availed during the policy term provided atleast one full year’s
premiums have been paid and on comple�on of one policy year, subject to the
terms and condi�ons as the Corpora�on may specify from �me to �me.
The maximum loan as a percentage of surrender value shall be as under:
• For inforce policies- upto 90%
• For paid-up policies- upto 80%
The interest rate to be charged for policy loan and as applicable for en�re term of
the loan shall be determined at periodic intervals. The applicable interest rate
shall be as declared by the Corpora�on based on the method approved by the
IRDAI.
Any loan outstanding along with interest shall be recovered from the survival
benefits or claim proceeds at the �me of exit.
10
23.38%
20.85%
19.18%
18.16%
11
25.05%
21.99%
19.93%
18.60%
12
27.06%
23.38%
20.85%
19.18%
13
30.00%
25.05%
21.99%
19.93%
14
35.00%
27.06%
23.38%
20.85%
15

30.00%
25.05%
21.99%
16

35.00%
27.06%
23.38%
17


30.00%
25.05%
18


35.00%
27.06%
19



30.00%
20



35.00%
Policy
Term
14
16
18
20
Guaranteed Surrender value factors applicable to accrued Guaranteed Addi�ons
1
4.25%
4.10%
3.85%
3.45%
2
8.85%
8.58%
8.03%
7.22%
3
17.85%
17.58%
17.03%
16.22%
4
18.16%
17.66%
17.58%
16.58%
5
18.60%
17.85%
17.58%
17.03%
6
19.18%
18.16%
17.66%
17.58%
7
19.93%
18.60%
17.85%
17.58%
8
20.85%
19.18%
18.16%
17.66%
9
21.99%
19.93%
18.60%
17.85%
Policy Year
14. Taxes:
Statutory Taxes, if any, imposed on such insurance plans by the Govt. of India or
any other cons�tu�onal Tax Authority of India shall be as per the Tax laws and the
rate of tax as applicable from �me to �me.
The amount of applicable taxes, as per the prevailing rates shall be payable by the
policyholder on premiums (for Base Policy and Rider(s), if any) including extra
premiums, if any, which shall be collected separately over and above in addi�on
to the premiums payable by the policyholder. The amount of tax paid shall not be
considered for the calcula�on of benefits payable under the plan.
Regarding Income tax benefits/implica�ons on premium(s) paid and benefits
payable under this plan, please consult your tax advisor for details.
If the Policyholder is not sa�sfied with the “Terms and Condi�ons” of the policy,
the policy may be returned to the Corpora�on within 15 days from the date of
receipt of the policy bond sta�ng the reasons of objec�ons. On receipt of the
same the Corpora�on shall cancel the policy and return the amount of premium
deposited a�er deduc�ng the propor�onate risk premium (for base plan and
rider(s), if any) for the period of cover, expenses incurred on medical
examina�on, special reports, if any and stamp duty charges.
15. Free look period:
Suicide: A policy shall be void
i. If the Life Assured (whether sane or insane) commits suicide at any �me
within 12 months from the date of commencement of risk , the Corpora�on
will not entertain any claim under the policy except for 80% of the total
premiums paid, provided the policy is inforce.
ii. If the Life Assured (whether sane or insane) commits suicide within 12
months from date of revival, an amount which is higher of 80% of the total
premiums paid �ll the date of death or the surrender value as available on the
date of death shall be payable. The Corpora�on will not entertain any other
claim under the policy.
This clause shall not be applicable for a policy lapsed without acquiring
paid-up value and nothing shall be payable under such policies.
Note: Premiums referred above shall not include any taxes, extra premiums and
any rider premium(s) other than Term Assurance Rider, if any.
16. Exclusion:
BENEFIT ILLUSTRATION:
Illustra�on I
Age of life Assured (nearer birthday) 30 Years
Policy Term (Years) 14 Years
Premium Paying Term (Years) 10 Years
Premium payment mode Yearly
Basic Sum Assured ` 1,00,00,000
Premium (excluding Taxes) ` 10,75,550

Illustra�on II
Age of life Assured (nearer birthday) 30 Years
Policy Term (Years) 20 Years
Premium Paying Term (Years) 16 Years
Premium payment mode Yearly
Basic Sum Assured ` 1,00,00,000
Premium (excluding Taxes) ` 6,93,350
Non Guaranteed Benefits
(Loyalty Addi�on)
Total Maturity Benefit
incl of Loyalty Addi�on,
in any
Scenario 1





10,50,000
15,50,000
21,50,000



92,50,000



1,14,00,000
1,50,00,000
1,77,50,000
1,77,50,000
1,77,50,000
1,50,00,000
1,88,00,000
1,93,00,000
1,99,00,000
Total Death Benefit incl of
Loyalty Addi�on, if any
(Amount in Rs)
Scenario 2 Scenario 1 Scenario 2 Scenario 1 Scenario 2
End of
Year
Total
Premiums
paid �ll the
end of the
year
Guaranteed Benefits
Survival
Benefit
Sum Assured
on Maturity
Sum Assured
on Death
Inbuilt Cri�cal
Illness Benefit
5
10
12
14
53,77,750
1,07,55,500
1,07,55,500
1,07,55,500

30,00,000
30,00,000




92,50,000
1,50,00,000
1,77,50,000
1,77,50,000
1,77,50,000
10,00,000
10,00,000
10,00,000
10,00,000
End of
Year
Total
Premiums
paid �ll the
end of the
year
Guaranteed Benefits
Survival
Benefit
Sum Assured
on Maturity
Sum Assured
on Death
Inbuilt Cri�cal
Illness Benefit
5
10
15
16
18
20
34,66,750
69,33,500
1,04,00,250
1,10,93,600
1,10,93,600
1,10,93,600



45,00,000
45,00,000






95,50,000
1,50,00,000
1,77,50,000
2,05,00,000
2,10,50,000
2,10,50,000
2,10,50,000
10,00,000
10,00,000
10,00,000
10,00,000
10,00,000
10,00,000

Disclaimer:
i) This illustra�on is applicable to a standard (from medical, life style and
occupa�on point of view) life wherein any riders are not opted.
ii) Some benefits are guaranteed and some benefits which are Non
Guaranteed benefits with returns based on the future performance are
shown for two different rates of assumed future investment returns.
iii) The Non-Guaranteed benefits in above illustra�on are calculated so that
they are consistent with the Projected Investment Rate of Return assump�on
of 4% p.a. (Scenario 1) and 8% p.a. (Scenario 2). In other words, in preparing
this benefit illustra�on, it is assumed that the Projected Investment Rate of
Return that LICI will be able to earn throughout the term of the policy will be
4% p.a. or 8% p.a., as the case may be. The Projected Investment Rate of
Return is not guaranteed and they are not the upper or lower limits of what
you might get back, as the value of your policy is dependent on a number of
factors including actual future investment performance.
iv) The main objec�ve of the illustra�on is that the client is able to appreciate the
features of the product and the flow of benefits in different circumstances
with some level of quan�fica�on.
v) Guaranteed Inbuilt Cri�cal Illness benefit is payable on occurance of the
specified cri�cal illnesses only.
SECTION 45OF THE INSURANCE ACT, 1938:
The provision of Sec�on 45 of the Insurance Act, 1938 shall be as amended from
�me to �me. The simplified version of this provision is as under:
Provisions regarding policy not being called into ques�on in terms of Sec�on 45 of
the Insurance Act, 1938 are as follows:
1. No Policy of Life Insurance shall be called in ques�on on any ground
whatsoever a�er expiry of 3 yrs from
Non Guaranteed Benefits
(Loyalty Addi�on)
Total Maturity Benefit
incl of Loyalty Addi�on,
in any
Scenario 1







6,50,000
19,00,000
23,00,000
31,00,000
39,00,000





95,50,000





1,34,50,000
1,50,00,000
1,77,50,000
2,05,00,000
2,10,50,000
2,10,50,000
2,10,50,000
1,50,00,000
1,84,00,000
2,24,00,000
2,33,50,000
2,41,50,000
2,49,50,000
Total Death Benefit incl of
Loyalty Addi�on, if any
(Amount in Rs)
Scenario 2 Scenario 1 Scenario 2 Scenario 1 Scenario 2
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
2. On the ground of fraud, a policy of Life Insurance may be called in ques�on
within 3 years from
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
For this, the insurer should communicate in wri�ng to the insured or legal
representa�ve or nominee or assignees of insured, as applicable, men�oning
the ground and materials on which such decision is based.
3. Fraud means any of the following acts commi� ed by insured or by his agent,
with the intent to deceive the insurer or to induce the insurer to issue a life
insurance policy:
a. The sugges�on, as a fact of that which is not true and which the insured
does not believe to be true;
b. The ac�ve concealment of a fact by the insured having knowledge or
belief of the fact;
c. Any other act fi� ed to deceive; and
d. Any such act or omission as the law specifically declares to be fraudulent.
4. Mere silence is not fraud unless, depending on circumstances of the case, it is
the duty of the insured or his agent keeping silence to speak or silence is in
itself equivalent to speak.
5. No Insurer shall repudiate a life insurance Policy on the ground of Fraud, if the
Insured / beneficiary can prove that the misstatement was true to the best of
his knowledge and there was no deliberate inten�on to suppress the fact or
that such mis-statement of or suppression of material fact are within the
knowledge of the insurer. Onus of disproving is upon the policyholder, if alive,
or beneficiaries.
6. Life insurance Policy can be called in ques�on within 3 years on the ground
that any statement of or suppression of a fact material to expectancy of life of
the insured was incorrectly made in the proposal or other document basis
which policy was issued or revived or rider issued. For this, the insurer should
communicate in wri�ng to the insured or legal representa�ve or nominee or
assignees of insured, as applicable, men�oning the ground and materials on
which decision to repudiate the policy of life insurance is based.

7. In case repudia�on is on ground of mis-statement and not on fraud, the
premium collected on policy �ll the date of repudia�on shall be paid to the
insured or legal representa�ve or nominee or assignees of insured, within a
period of 90 days from the date of repudia�on.
8. Fact shall not be considered material unless it has a direct bearing on the risk
undertaken by the insurer. The onus is on insurer to show that if the insurer
had been aware of the said fact, no life insurance policy would have been
issued to the insured.
9. The insurer can call for proof of age at any �me if he is en�tled to do so and no
policy shall be deemed to be called in ques�on merely because the terms of
the policy are adjusted on subsequent proof of age of life insured. So, this
Sec�on will not be applicable for ques�oning age or adjustment based on
proof of age submi� ed subsequently.
[Disclaimer: This is not a comprehensive list of Sec�on 45 of the Insurance Act,
1938 and only a simplified version prepared for general informa�on. Policy
Holders are advised to refer to Sec�on 45 of Insurance Act, 1938, for complete
and accurate details. ]
PROHIBITIONOF REBATES (SECTION 41OF THE INSURANCE ACT, 1938):
1) No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or con�nue an insurance in
respect of any kind of risk rela�ng to lives or property in India, any rebate of
the whole or part of the commission payable or any rebate of the premium
shown on the policy, nor shall any person taking out or renewing or
con�nuing a policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the insurer.
2) Any person making default in complying with the provisions of this sec�on
shall be liable for a penalty which may extend to ten lakh rupees.